Have you ever wondered what it’s like to wear the gowns & dresses that the stars wear on the red carpet? What it’s like to have designers like Proenza Schouler, Diane Von Furstenburg, Badgley Mischka hanging in your own closet?

Well rejoice, a new grassroots company called “Rent the Runway” is making it happen & all at recession-friendly prices. Designer dresses usually running between $500-$3,000 to buy are offered on RTR at $50-$300 for a 4 night rental.

Badgley Mishka

Rental: $50 Retail: $520

Robert Rodriguez

Rental: $75 Retail: $650

Philoposhy Di Alberta Ferretti

Rental: $150 Retail: $1,125

Once you click & pick the dress you want online, your dress is delivered straight to your doorstep – in two different sizes, just to be safe. After your event just put it in the prepaid packaging & drop it in your mailbox. It’s almost as easy as renting a movie from Netflix!

Rent the Runway was founded by two recent Harvard Business School graduates, Jennifer Hyman and Jennifer Carter Fleiss. Ms. Hyman said she got the idea for the service last year after watching her younger sister agonize over whether to buy an expensive new outfit to wear to a wedding.

“Here was this young girl who loves fashion and was willing to spend a good portion of her salary on a dress that she’s only going to wear once or twice, and I thought, there has to be a solution for this,” said Ms. Hyman.

In this tough economy, businesses that are socially responsive to the green movement of recycling clothing PLUS giving fashionistas the designer dresses they’ve always wanted, all at attractive prices, they are sure to succeed! As a matter of fact, just last week they moved out of their tiny rented spot & got their own huge office space in NYC (complete with swanky couches and hot pink walls.)